CLE on Elements for Successful Business Succession Planning

The American Legal Institute is sponsoring a Webinar entitled, Elements for Successful Business Succession Planning, on October 30, 2013, at 12:30 PM – 2:00 PM ET.  Provided below is a description of the event:

It’sa fact: over 70% of family and closely-held businesses do not have viablebusiness succession plans in place. Indeed, according to the Small BusinessInstitute, approximately the same amount do not survive the transition fromoriginal business owner to second generation!

Ifyou represent closely-held businesses, you have likely helped yourentrepreneurial clients with organizational documents to get them started on asolid footing and have probably already implemented buy-sell agreements. Youmay have even encouraged the owner to purchase “key man” insurance to head offcatastrophe in case the owner or a highly skilled employee dies. But has yourbusiness owner fully considered what effect retirement or death will have onthe business? 

This CLE webcast on business succession planningis taught by esteemed faculty, Eric A. Manterfield, Krieg DeVault, Indianapolis, and Dennis I. Belcher, McGuireWoods LLP, Richmond, VA.These lawyers, who have decades of experience in implementing businesssuccession plans, will explore the elements necessary for successful businesssuccession planning, as well as alert you to ways to avoid income or estate taxtraps that can snare unwary practitioners.